About your Search

20130201
20130228
Search Results 0 to 7 of about 8
, and investors are seeing in the u.s. economy. we preview the economic state of the union. why regulators need to treat them like other business. then u.s. airways sees big benefits in merging with american airlines. we look at the new landscape for airlines if the deal goes through. we have that anmore tonight on nbr. president obama is preparing to deliver his first state of the union address of his new term, tomorrow. the american people will be listening carefully to his plans to grow the economy, especially as they struggle with less take home pay, and worries about their jobs. while there are signs of improvement in the economy, the unemployment rate rose in january to 7.9%. so what is the current state of the economy? erika miller talked to two experts with different views. >> reporter: it may seem strange to many investors that the stock market can be hovering at five- year highs, when the economy is so weak. but what's fueling the rally is not the current situation, it's hope. >> we've taken out some of the downside tail risks. so, we're feeling like although it's not going to be a bo
. the u.s. airways/american airlines merger is ready for take-off, and the companies say they see no turbulence ahead from washington regulators. and senate democrats offer their plan to head off the sequester's sharp spending cuts. we get the details from michigan senator debbie stabenow. we have that and more tonight on "n.b.r." two big sweetheart deals on this valentine's day: american airlines is merging with u.s. airways, creating the world's largest airline company; and warren buffett is buying h.j. heinz, the biggest food company acquisition ever. we'll have more on american in a moment, but we begin tonight with buffett and that surprising mega-food deal. the billionaire investor is teaming up with the billionaire owners of 3g capital to buy the ketchup maker for $28 billion. the private equity group and buffett's berkshire hathaway are paying $72.50 a share in cash. that's a 20% premium over heinz's closing price yesterday. ruben ramirez reports. >> reporter: the oracle of omaha now has a new title: ketchup king. for the first time, warren buffett, who's shied away from w
-- including u.s. government officials who in 2007 publicly stated that problems in the subprime market appeared to be contained." >> reporter: s&p goes on to argue that the securities at issue in the justice department's case were reviewed by another ratings agency and received the same rating. s&p says it also began downgrading many mortgage securities in 2006, warning that conditions in the housing market were deteriorating. but critics say what matters is what s&p claimed at the time it stamped securities triple a. >> the ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. >> reporter: s&p points out court rulings have dismissed what it called challenges to a credit rating made with 20/20 hindsight. if the justice department does sue, standard and poor's says it will vigorously defend itself. darren gersh, "n.b.r.," washington. >> tom: still ahead, tonight's word on the street: consumers, the street.com's david peltier joins us with some consumer product
rain and snow, but not on saturdays. the u.s. postal service is dropping saturday letter deliveries to save billions. >> tom: i'm tom hudson. fresh pain at the pump. american drivers see a steep jump in gas prices: up 15 cents a gallon in the past week alone. >> susie: and the federal reserve says it's been hit, by cyber hackers. we look at u.s. businesses and just how safe their networks are. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s. postal service says this summer it will stop delivering mail on saturdays, ending a service that began 150 years ago. cutting back to a five-day a week schedule will save $2- billion. the post office has been losing about $20 million a day, as e- mail useage ramps up and mail volume plunges. congress has required the post office to deliver six days a week, but the postmaster general believes there is a loophole in the law that will allow him to make the change. darren gersh reports on the business fallout. >> reporter: first class mail is the postal service's most profitable product. it is also a business that is disappearing at the
. that and more tonight on "n.b.r." investors spent much of this week focused on the u.s. market with major market indexes hitting five-year highs. but now the spotlight is shifting overseas. g-20 finance ministers and central bankers are meeting in moscow over the weekend. they will be debating the need for austerity, versus the need to spur growth. no one expects a quick turnaround for the european economy, which has been mired in recession. but as erika miller reports, that may make now a good time to invest. >> reporter: it would makes sense that american investors would be loading up on u.s. stocks with the market here doing so well. but they're not. last week, investors in stock mutual funds put virtually all their cash in international markets. more than $3 billion went into funds holding international stocks. by comparison, mutual funds holding u.s. stocks suffered their first outflows of the year. investment advisors say small investors may be on to something. >> international investing has had a bad reputation over the last couple of years had a bad experience, people have taken money ou
its easy efforts to stimulate the economy had u.s. markets seeing green. the dow gained 116, the nasdaq is up 13, and the s&p rose nine. washington bureau chief darren gersh has details on the fed chairman's strong defense of his aggressive policy to support the economy. >> reporter: sure, there are risks when the federal reserve is buying almost $3 billion worth of bonds every day. but chairman ben bernanke told congress basically, "we got this." >> although a long period of low rates could encourage excessive risk taking, and continued close attention to such developments is certainly warranted, to this point, we do not see potential costs to the increased risk- taking in some financial markets is outweighing the benefits of promoting a stronger economic recovery and more rapid job creation. >> reporter: with unemployment stuck around 8% and inflation subdued at 1.5%, there are no economic red lights flashing. so bernanke gave no signals he was ready to change course or back away from his aggressive program to get the economy back to a more normal level of output. still, t
, "n.b.r.," washington. . >> chairman of macroeconomic advisers joins us tonight from st. louis. you have been looking at the sequester and fiscal cliff for man moons, joel. a pay cut for hundreds of thousands federal employees april 1. that sounds pretty substantial. is it, to the economy? >> well, first of all, it's substantial to the people affected, no question about that. in terms of its impact on the economy, we recently did a study that suggested if the sequester goes into full effect march 1, want impact will be to knock .6% off of growth this year. that is if we thought the economy was going to grow at about 2.6% without the sequester, that will be reduced to 2% with the sequester. >> tom: for this year, we're talking $85 billion potentially taken out of the growth of government spending between march 1 and the end of september and a $4 trillion budget. proportionally for median household income that's the equivalent of $1,000 out of a $50,000 income being taken out. how can that impact economy so much? >> well, it's-- it amounts to something like an 8% cut in the level of g
by groups opposed to economic reform, on top of that, u.s. equities face a looming friday deadline for massive government budget cuts, known as "sequestration." the dow tumbled 216 points, the nasdaq fell nearly 46, and the s&p 500 lost 28 points. while there's been much talk of a correction in the stock market, sequestration may not be the catalyst. suzanne pratt reports. >> reporter: it is widely accepted on wall street that sequestration is coming. and, with it a new reason for the fragile u.s. economy to sputter. but, what will the first phase of billions of dollars in federal spending cuts actually do to the u.s. stock market? after all, major market averages are hovering close to all-time highs, and don't forget investors are finally warming up to equities again. floor broker art cashin says today's selling was mostly a reaction to italy's election, and that the stock market is not yet focused on sequestration. >> i don't think that even we slip into sequestration it will have the same dramatic effect that the fiscal cliff and the debt ceiling had. it is seen as somewhat temp
Search Results 0 to 7 of about 8

Terms of Use (10 Mar 2001)